China’s National Development and Reform Commission (NDRC) has announced that it has approved the issuing of bonds worth RMB 300 billion ($44.98 billion by
China Railway Corporation (CRC) to raise funds. Accordingly, RMB 200 billion ($29.99 billion) of bonds will be used for railway construction projects and equipment purchases, while RMB 100 billion ($14.99 billion) will be used for debt restructuring. In particular, CRC will issue bonds worth a total of RMB 170 billion ($25.49 billion) in the current year.